SCOOP, a popular digital newsstand in Indonesia, raises S$1M @SCOOPtoday

SCOOP, a popular digital newsstand in Indonesia, raises S$1M December 23, 2011 by Terence LEE Apps Foundry , an Indonesian mobile development company headquartered in Singapore, announced on 22nd December that they have raised S$1M (US$0.77M) from Gobi Partners and Mitsui Global Investment to further develop SCOOP , their flagship newsstand app. SCOOP, which was launched in Indonesia last year, has over 800 magazines, tabloids, and books in its stable. 70 percent of Indonesian magazines have their digital editions on the app, which has so far been downloaded over 120,000 times, making it one of the top ten grossing iPad apps in Indonesia. SCOOP is also available for the iPhone. Gobi Partners is a venture capital firm headquartered in Shanghai focusing on early stage digital media and technology startups. While it invests primarily in Chinese companies, it has also funded a...